Cyber Liability
Cyber Liability insurance responds when your business suffers a data breach, ransomware attack or network security failure. It sits alongside Professional Indemnity to cover the technology and data risks a PI policy does not.
What it covers
- ✓Costs of responding to a data breach, including notification and forensic investigation
- ✓Business interruption caused by a network security failure
- ✓Cyber extortion and ransomware response costs
- ✓Third-party liability for failure to protect client data
Who needs it
- IT and technology businesses handling client data or systems
- Insurance brokers and financial advisers holding personal and financial information
- Any business processing personal information under POPIA
FAQ
Frequently asked questions
No. Cyber covers data breaches and network security events; Professional Indemnity covers liability for advice, design or service errors. Many technology and financial services businesses hold both.